BRUSSELS—The European Union’s executive arm said it was opening a probe into Illumina Inc.’s decision to complete its $7.1 billion purchase of Grail Inc. despite a continuing antitrust investigation.
The European Commission said Friday that the probe would assess whether Illumina’s move breached the bloc’s rules calling for companies to put on hold mergers while the EU is investigating competition concerns.
“We deeply regret Illumina’s decision to complete its acquisition of Grail, while our investigation…is still ongoing,” said European Commission Vice President Margrethe Vestager, who leads the EU executive’s antitrust work. The commission takes “very seriously” breaches of companies’ standstill obligation, she added.
If the commission decides Illumina has breached its rules, the company could be fined up to 10% of its revenue.
Illumina didn’t immediately respond to a request for comment.
